Sylhet: British fintech company VALT has launched operations in Bangladesh, marking its entry into the country's digital payments market with a focus on the hospitality sector. The company's local operations were formally inaugurated in Sylhet today by Bangladesh Bank Executive Director Khaled Ahmed at a ceremony attended by senior officials of commercial banks and members of the local business community, said a press release.
According to Bangladesh Sangbad Sangstha, company representatives said VALT is a wholly owned subsidiary of UK-based VALT Holdings Limited and provides payment solutions and Point-of-Sale (POS) services to the hospitality industry in the United Kingdom. They highlighted that the company's technology development and operational infrastructure have been built and managed over the past decade by Sylhet-based IT company Yo Tech, emphasizing Bangladesh's role in supporting its international operations.
With its entry into Bangladesh, VALT aims to introduce digital payment and fintech solutions for the country's hospitality industry by drawing on its experience in the UK. Bangladesh-based technology teams will continue to support the company's global operations. Speaking at the launch, Bangladesh Bank Executive Director Khaled Ahmed noted that the initiative reflects the growing capabilities of Sylhet's technology sector. He added that Bangladesh Bank is working to expand financial inclusion, and applying the UK's transaction processing experience to support the digital transformation of local merchants would contribute to Bangladesh's digital economy.
Asad Zaman, Co-Founder and Chief Product Officer (CPO) of VALT Holdings and Chief Executive Officer (CEO) of VALT, explained that engineers in Sylhet have been developing software for international markets over the past decade. He stated that this experience has now been used to build a comprehensive fintech platform for Bangladesh. Through the ecosystem, local businesses will be able to move beyond cash-based transactions and adopt data-driven digital operations and integrated management tools, enabling technology-based decision-making and business management.